2012 R - 04 - APPROVING THE 2012 ANNUAL INVESTMENT PROGRAM OF THE CITY OF OLONGAPO, AS APPROVED AND SUBMITTED BY THE LOCAL DEVELOPMENT COUNCIL

EXCERPTS FROM THE MINUTES OF THE REGULAR SESSION OF THE SANGGUNIANG PANLUNGSOD OF OLONGAPO, HELD ON JANUARY 18, 2012 AT THE CITY HALL.

PRESENT:

Hon. Rolen C. Paulino - - - City Vice-Mayor & Presiding Officer

Hon. Rodel S. Cerezo - - - - - City Councilor

Hon. Eyrma Yvette Marzan-Estrella -- - “ “

Hon. Aquilino Y. Cortez, Jr. - - - - “ “

Hon. James G. Delos Reyes - - “ “

Hon. Gina Gulanes-Perez -- - - - “ “

Hon. Elena C. Dabu - -- - “ “

Hon. Eduardo J. Piano - - - - “ “

Hon. Edna A. Elane - - - - “ “

Hon. Noel Y. Atienza - - - - - “ “

Hon. Sarah Lugerna Lipumano-Garcia - - “ “

Hon. Carlito A. Baloy - - - - President, Liga ng mga Baranggay

Hon. Dolly Mae M. Ramos - - - - SK Federation President

ABSENT:

None

RESOLUTION NO. 04

(Series of 2012)

A RESOLUTION APPROVING THE 2012 ANNUAL INVESTMENT PROGRAM OF THE CITY OF OLONGAPO, AS APPROVED AND SUBMITTED BY THE LOCAL DEVELOPMENT COUNCIL

WHEREAS, the Local Development Council is mandated to: formulate long-term, medium-term and annual socio-economic development plans and policies; formulate the medium-term and annual public investment programs; appraise and prioritize socio-economic development programs and projects; and formulate local investment incentives to promote the inflow and direction of private investment capital as provided by Section 109 of the Local Government Code of the Philippines;

WHEREAS, the members of the Local Development Council of the City of Olongapo had convened and formulated the 2012 Annual Investment Program on December 9, 2011, held at the FMA Hall, Olongapo City Hall Complex;

WHEREAS, the formulation of the 2012 AIP is a good governance practice of transparency and an optimum utilization of scarce public resources;

NOW, THEREFORE, on motion of City Councilor Gina Gulanes-Perez, with the unanimous accord of the Members of the Sangguniang Panlungsod present;

RESOLVED, AS IT IS HEREBY RESOLVED, by the Sangguniang Panlungsod in session assembled to approve as it hereby approves the 2012 Annual Investment Program of the City of Olongapo, as approved and submitted by the Local Development Council.

APPROVED UNANIMOUSLY, January 18, 2012.